Ngozi Okonjo-Iweala, director-general of the World Trade Organization (WTO), says Nigeria’s trade cost is too high and needs to be cut down to facilitate local and international investment. Okonjo-Iweala stated this via a video link on the second day of the midterm ministerial performance review at the presidential villa, Abuja.Continue Reading

Uche Uwaleke, a professor and financial expert, says the devaluation of the naira will worsen poverty and unemployment in Nigeria. Uwaleke made the comment in reaction to Vice President Yemi Osinbajo’s call on the Central Bank of Nigeria (CBN) to allow the naira reflect the realities of the market. On Monday, atContinue Reading

President Muhammadu Buhari says the country’s debt profile is rising because the federal government had to spend its way out of recessions. Since Buhari assumed power in 2015, Nigeria’s economy has slipped into recession twice. The Debt Management Office (DMO) said Nigeria’s total public debt (federal and state governments) climbed to N35.46Continue Reading

Seven subsidiaries and business units of the Nigerian National Petroleum Corporation (NNPC) contributed a cumulative N56.177 billion to the national oil company’s total losses in April this year, latest financial and operations data from the corporation have indicated. A THISDAY review of the information released by the NNPC showed thatContinue Reading

Cocoyam contains rich nutrients to fight COVID-19 infection, a Federal Government agency said yesterday. Director-General of the Raw Materials Research Fund Development Council (RMRDC) Prof Hussaini Ibrahim listed the nutritional contents in cocoyam as digestible starch, good quality protein, Vitamin C, thiamin, riboflavin, niacin and high scores of proteins andContinue Reading

The People’s Republic of China weekend expressed its readiness to support Nigeria’s industrial growth especially in the area of automobile manufacturing. Chinese Ambassador to Nigeria, Mr Cui Jianchun, who spoke during a diplomatic fleet delivery by GAC Motor Nigeria and signing of a partnership agreement with the embassy in Abuja,Continue Reading